(TRENTON) -- The National Aquaculture Association (NAA), the United Soybean Board (USB) and the New Jersey Department of Agriculture (NJDA) will sponsor a half-day workshop, “Aquaculture Business Management and Marketing” on Thursday, October 17 at the Stockton Seaview & Golf Club in Galloway. The program will provide business owners and operators with the tools to develop growth strategies that will help them stay competitive in a challenging marketplace.

The workshop will provide a quick system for assessing aquaculture farm financial health. Hands-on exercises focused on interpreting financial indicators and using those indicators in management decision making will be covered. Each participant will receive a take-home toolkit to assist them in making decisions going forward.

To help growers refine their marketing plans, summaries of trends in pricing and quantities sold of the most important regional aquaculture products will be presented and market reports will be provided. Prices, promotion, and trends for the most important competing products also will be analyzed. Growers who participate in the workshop can request customized reports, which in another setting, would cost many thousands of dollars.

The U.S. aquaculture industry has enormous growth potential over the next decade, but will require producers to make smart business decisions. Management decisions based on close attention and understanding of key financial indicators and marketing strategies can make the difference between growth and business failure. For those segments of aquaculture with fewer current financial challenges, it is crucial to proactively avoid the financial distress that is being experienced elsewhere in U.S. aquaculture.

Workshop speakers include Linda O’Dierno, NAA Outreach Specialist, and Dr. Carole Engle and Dr. Madan Dey of the University of Arkansas at Pine Bluff (UAPB).

The $25 registration fee includes the workshop, take home materials, break and lunch.